Iamgold Corp. is selling the mining assets to Zijin Mining Group Co. Ltd. for US$360 million. Read more.
Iamgold owns 95 per cent of Rosebel Gold Mines NV, which runs two mines in Suriname with the remaining five per cent held by the South American nation’s government. The cash received from the sale will be used to build Iamgold’s Côté Gold project, which is located about 125 kilometres southwest of Timmins, Ont., and is currently under construction.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“This sale represents a key first step in solving the funding gap to complete the construction of our flagship Côté Gold project,” Graeme Jennings, a company spokesperson, said.Article contentA parliamentary committee in MarchCanada should launch a full security review for every investment by a company influenced by an “authoritarian state” since that meets the Investment Canada Act’s threshold of potentially being “injurious to national security.
The committee recommended the Minister of Innovation, Science and Industry invoke Section 25.3 of the act to launch a formal national security review in “all such cases.” The minister’s decision not to do so over Zijin Mining’s acquisition in January of Neo Lithium Corp., a mining company formerly listed in Canada that owned a lithium project in Argentina, led to some controversy.Article content
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Iamgold selling stake in Rosebel Gold Mines to Chinese company for US$360M in cash - BNN BloombergIamgold Corp. has signed a deal to sell its 95 per cent interest in Rosebel Gold Mines N.V. to Chinese company Zijin Mining Group Co. Ltd. for US$360 million in cash.
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Iamgold selling Suriname mines to China's Zijin to fund Ontario gold projectIamgold Corp. is selling the mining assets to Zijin Mining Group Co. Ltd. for US$360 million. Read more.
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